US burns through nearly half of government's Bitcoin reserve in first week of Ir

[Quantum_Resolve7987V]

The first week of America’s war with Iran already cost taxpayers more than $11 billion, about half the total value of the government’s Bitcoin holdings, according to figures provided to Congress behind closed doors.

To put that in context, the US government has 328,372 Bitcoins, worth around $23.13 billion, as of March 13. This indicates that the combat has already used up around half of that total, or 48.9%.

At that rate, the entire Bitcoin reserve, roughly $1.88 billion every day, would be exhausted in just over 12 days.


https://www.mexc.co/en-PH/news/920399

I dont know what people make of this but it's not like the us government is SELLING bitcoin to fund the war. The money for the bombs and stuff comes from taxing usa citizens and printing more paper money. Bitcoin doesn't even come into the picture at all. So I'm not sure this war will push bitcoin price higher. Trump doesn't need bitcoin to bomb other countries.

The only losers in this are american citizens who will see higher taxes and more inflation...same old sh*** i'm off my soapbox now!

[Die_empty]

This topic doesn't relate to Bitcoin since the government is financing the war from other sources.  It would have made sense for the US government to decide to sell or buy more Bitcoin to finance the war. US citizens will bear the consequences of this war but it's like Trump has plans to get back the money spent on the war. Some news outlets reported that the US military is targeting to take over Kharg Island which is the economic lifeline of Iran. If the US achieve a change of government, they might take over Iranian oil just like Venezuela

[joniboini]

Even if they want to dump Bitcoin to fund their wars, they'd probably do it in batches and OTC. Can't imagine them using Binance to build a wall of sell orders, for example. But anyway, this is just for fun as far as I can see. I can't imagine why people think this news will encourage people to pump or dump their bags, other than some complicated narration of what aboutism. At least I hope so.

[CryptSafe]

The taxpayers' funds are what are used to fund wars, and the government does not give a damned thought about it. The citizens are just being too quiet over it, they could call their government to order. How can one pay their taxes, only to hear that it is used to fund war and all of that? It does not sound normal because when it gets exhausted, they would be the ones to pay higher taxes if the government decides to increase the taxes as a result of the ongoing war, so as to get funds to sustain their military in battle.

[aoluain]

Interesting comparison!

So while funding the war comes from different budgets the longer this war goes on the US
will have will have to liquidate their Bitcoin holdings as well as the furniture in the White house!

Let this be a lesson to everyone - dont do stupid senseless things which might threaten your
Bitcoin holdings.

[Findingnemo]

If the government starts selling their bitcoin holdings, it is good for the bitcoin whether it helps the price to rise or it causes a dump because it helps the bitcoin to be scattered among more holders rather than sitting somewhere and possibly will never be touched at all. I don't understand what is the point of saving the people of different countries while they are making the lives of their own citizens a hell while living but letting them to take all those burdens.

[philipma1957]

Interesting comparison!

So while funding the war comes from different budgets the longer this war goes on the US
will have will have to liquidate their Bitcoin holdings as well as the furniture in the White house!

Let this be a lesson to everyone - dont do stupid senseless things which might threaten your
Bitcoin holdings.

you should be ashamed to write this.


they will simply print money.

duh

personally the war saddens me a lot for many reasons.

But Since I live in the USA I prepped by buying a hybrid which gets 48 miles a gallon so the high fuel prices do not hurt me a lot.

The Middle East conflict will continue for at least a year and it will help

missle makers
oil drilling not in the Middle East.

and BTC since no physical asset is safe in all of the Middle East Iran has shown they will bomb any country so anyone in the missile range is safe guarding some wealth in BTC.

gold sucks bigly if Iran drops a missile on it.

BTW a better title would be :

USA is using all its defensive missiles will they run out defending against Iran?

[o48o]

-cut-
The only losers in this are american citizens who will see higher taxes and more inflation...same old sh*** i'm off my soapbox now!

I am pretty sure that those kids being bombed, their families and relatives are losing more then some U.S. citizens with their inflation. And i am not sure if taxes are the top 50 biggest problem they have atm.

Whole news have nothing to do with bitcoin anyway, or are we now comparing all news events on how they compare to the value of US btc reserves? And focusing to something like if btc price is affected because of this is tacky to say the least.

[Darker45]

War burns money, but it also creates. War is often economic, an investment. It might be different to that lowly soldier holding a gun, but to those who made the decision up there, there must be solid economic formula behind it. The US makes profit every time Israel drops a bomb. They supply 70% of Israel's arms. And because Iran retaliated not only against Israel but also against Qatar, Bahrain, and other gulf countries, which are also largely dependent on US weapons, there must be new contracts signed out of this conflict.